The Truth About Markets: Why Some Nations are Rich But Most Remain Poor

John Kay

Apr 2004 · Penguin UK

About this ebook

Capitalism faltered at the end of the 1990s as corporations were rocked by fraud, the stock-market bubble burst and the American business model – unfettered self-interest, privatization and low tax – faced a storm of protest. But what are the alternatives to the mantras of market fundamentalism?

Leading economist John Kay unravels the truth about markets, from Wall Street to Switzerland, from Russia to Mumbai, examining why some nations are rich and some poor, why ‘one-size-fits-all’ globalization hurts developing countries and why markets can work – but only in a humane social and cultural context. His answers offer a radical new blueprint for the future.

Ratings and reviews

This book is a bit of a slog but really is fantastic if you're looking to get a balanced, centrist view on political ideology and economic policy. Well worth the effort if you're really into politics/economics, probably very tough reading if you're not.

About the author

John Kay is one of Britain's leading economists. He was the first (controversial) head of the Oxford Said Business School and for many years headed Europe's largest private firm, providing economic advice to companies and governments. He has a regular column in the Financial Times.